: The overall market context and catalysts moving the broad indices.
: Bellafiore argues that if you run a pizzeria, you don't serve tacos just because a customer asks. Similarly, traders must stick to their proven setups and avoid "making tacos"—trading setups outside their expertise. The Five Checks for Every Trade the playbook pdf mike bellafiore top
: The "feel" developed over thousands of hours of screen time, which helps a trader react to subtle market shifts. Components of a Professional Playbook Entry The PlayBook Summary, Review & Key Lessons for Traders : The overall market context and catalysts moving
: Identifying "Stocks In Play"—those with fresh news or specific catalysts that drive order flow . The Five Checks for Every Trade : The
: Observing time and sales and the Level 2 to confirm when to enter or exit.
: Successful traders are like specialists; they master a few "A+" setups rather than being mediocre across dozens of strategies.
: Bellafiore maintains that your focus should remain on executing "one good trade" at a time, where the process is prioritized over the profit and loss (P&L).